How did the economies perform in 2022?
In 2022, the economy of Bonaire grew by 8.8 percent. This growth was mainly driven by the accommodation and food services and recreation sectors. On Saba, the economy grew by 1.5 percent. On St Eustatius, the economy contracted by 11.0 percent, as turnover fell for some large businesses that depend heavily on the international oil market.
| Year | Bonaire | St Eustatius | Saba |
|---|---|---|---|
| 2012 | 92.2 | 97.7 | 95.7 |
| 2013 | 94.4 | 98.5 | 100.9 |
| 2014 | 95.9 | 91.8 | 100.7 |
| 2015 | 99.1 | 94.8 | 101.9 |
| 2016 | 101.3 | 93.8 | 101.4 |
| 2017 | 100.0 | 100.0 | 100.0 |
| 2018 | 103.9 | 88.2 | 97.5 |
| 2019 | 110.4 | 80.6 | 92.3 |
| 2020 | 101.2 | 59.7 | 86.5 |
| 2021 | 113.0 | 72.3 | 89.1 |
| 2022 | 122.9 | 64.4 | 90.4 |
With the termination of all restrictions to limit the spread of coronavirus at the beginning of 2022, inbound tourism by air on Bonaire continued to increase from 111 thousand tourists in 2021 to 173 thousand in 2022. That was an increase of 55 percent and the number exceeded that of 2019, when 158 thousand tourists came to the island. This led to an increase in the value added of both the accommodation and food services and recreation sectors by over 45 percent on Bonaire.
The higher number of tourists combined with a 5.3 percent increase in the island's population also boosted the value added of the trade sector on Bonaire. Supermarkets in particular performed well in 2022.
| Sector | Value added volume |
|---|---|
| Culture, recreation, other services |
45.8 |
| Accommodation and food services |
45.5 |
| Real estate activities | 17.5 |
| Public administration and public services |
17.1 |
| Trade | 5.8 |
| Health and welfare | 3.3 |
| Energy, water, waste management |
3.2 |
| Manufacturing | 2.6 |
| Business services | 2.6 |
| Education | 2.2 |
| Agriculture and mining and quarrying |
1.8 |
| Transport, information and communication |
-6.5 |
| Construction | -6.9 |
| Financial services | -9.6 |
Sharp decline on St Eustatius
On St Eustatius, the contraction in GDP of 11 percent was mainly related to a few large businesses on the island. Their output is mainly export-oriented and dependent on oil demand in the region. Demand for these businesses’ products and services fell in 2022. Although the number of tourists increased by more than 50 percent to 5.6 thousand, the additional demand created by this in the trade and accommodation and food services sectors in particular was insufficient to compensate for the contraction of large businesses in the oil sector.
| Year | St Eustatius | Saba |
|---|---|---|
| 2013 | 0.8 | 5.5 |
| 2014 | -6.8 | -0.2 |
| 2015 | 3.2 | 1.2 |
| 2016 | -1.0 | -0.5 |
| 2017 | 6.6 | -1.4 |
| 2018 | -11.8 | -2.5 |
| 2019 | -8.6 | -5.3 |
| 2020 | -25.9 | -6.3 |
| 2021 | 21.1 | 3.0 |
| 2022 | -11.0 | 1.5 |
Economic recovery continues on Saba after the coronavirus crisis
Saba's inbound tourism increased from 4.0 thousand tourists in 2021 to 4.9 thousand in 2022. That was an increase of 22.5 percent. However, the number is still considerably lower than it was in 2019, when 8.8 thousand tourists visited the island. As tourism recovered, the value added of the accommodation and food services and recreation sector increased.